14th May 2025 10:50
(Alliance News) - The following stocks are the leading risers and fallers on AIM on Wednesday.
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AIM - WINNERS
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H&T Group PLC, up 40% at 641.09 pence, 12-month range 325.50p-646.00p. The pawnbroker agrees the terms for a potential acquisition by FirstCash Holdings, under which each H&T shareholder will be entitled to receive 661 pence in cash per H&T share. This comprises 650p in cash and a final dividend of 11p per share. The offer represents a 44% premium to the H&T closing price of 458p on Tuesday, and values H&T at around GBP297 million on a fully diluted basis, with an implied enterprise value of around GB351 million. H&T directors believe the offer to represent an attractive opportunity for H&T shareholders, and intend to recommend unanimously that shareholders vote in favour of the scheme. "The acquisition has a compelling strategic rationale, bringing together two businesses with complementary offerings focussed on the values and benefits of their customers," says H&T Chief Executive Officer Chris Gillespie. "It's clear to us that FirstCash has full appreciation of our capabilities, the dedication of our employees, commitment to the customer and with their backing and support, I am confident H&T will have an extremely bright future."
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Corcel PLC, up 21% at 0.26p, 12-month range 0.090p-0.40p. The oil exploration and production firm conditionally acquires an additional 30% gross interest in its operation Block KON-16 in the Kwanza Basin, onshore Angola, from a joint venture partner. The deal was made via subsidiary Atlas Petroleum Exploration Worldwide Ltd and is subject to government approval. Corcel also announces the signing of a binding heads of terms with Sintana Energy Inc, for the sale of a 5% net interest in Block KON-16 to Sintana at a price of USD2.5 million. The deal also involves a joint study and bid agreement with Sintana, which will target further opportunities in Angola. The two agreements, when completed, will increase Corcel's net interest in Block KON-16 to 71.5% from 49.5%.
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AIM - LOSERS
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Empyrean Energy PLC, down 55% at 0.042p, 12-month range 0.030p-0.55p. The oil and gas development company has decided to plug and abandon the Wilson River-1 well and release the rig, as results from a drill stem test indicated no moveable hydrocarbons. This was despite the well having potential oil pay, indicated by the quad combo logging run, notes Chief Executive Officer Tom Kelly. "The conclusion is that there has been inadequate buildup of hydrocarbons through effective migration within the trap to displace enough formation water," CEO Kelly explains.
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By Emily Parsons, Alliance News reporter
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H&t Group PlcCorcelEmpyrean